Hormel Foods Corporation (HRL) financial statements (2022 and earlier)

Company profile

Business Address 1 HORMEL PL
AUSTIN, MN 55912-3680
State of Incorp. DE
Fiscal Year End October 31
SIC 2011 - Meat Packing Plants (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

1/31/2022
TTM
10/31/2021
10/31/2020
10/31/2019
10/31/2018
10/31/2017
10/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments8476351,732688459444415
Cash and cash equivalents8246141,714673459444415
Short-term investments22211715   
Receivables820904744594604641610
Inventory, net of allowances, customer advances and progress billings1,3861,3691,0731,042964921986
Inventory1,3861,3691,0731,042964921986
Prepaid expense 251823161614
Other current assets 151214756
Other undisclosed current assets41 (0)    
Total current assets:3,0932,9483,5792,3612,0502,0272,030
Noncurrent Assets
Finance lease, right-of-use asset 5361 
Operating lease, right-of-use asset 7253 
Property, plant and equipment3583894321,6291,5131,2031,105
Long-term investments and receivables286299308289273242240
Long-term investments286299308289273242240
Intangible assets, net (including goodwill)6,7456,7513,6893,5163,9213,1472,738
Goodwill4,9284,9292,6132,4822,7142,1201,834
Intangible assets, net (excluding goodwill)1,8171,8221,0761,0341,2071,027903
Other noncurrent assets304300250178190185182
Defined benefit plan, assets for plan benefits69
Other undisclosed noncurrent assets2,0411,8841,5351361951726
Total noncurrent assets:9,7349,7496,3295,7486,0924,9494,340
TOTAL ASSETS:12,82712,6969,9088,1098,1426,9766,370
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities7991,2921,137984995930897
Accounts payable 793645590619553482
Accrued liabilities150515962487782
Employee-related liabilities214269278214225210251
Taxes payable8924226214
Interest and dividends payable1541551331131019077
Other undisclosed accounts payable and accrued liabilities192      
Debt917267    
Other undisclosed current liabilities607106100121143128156
Total current liabilities:1,4151,4161,5041,1051,1391,0581,053
Noncurrent Liabilities
Long-term debt and lease obligation, including:3,3093,3151,098250625250250
Long-term debt, excluding current maturities3,3093,3151,045250625250250
Finance lease, liability 4553 
Operating lease, liability 57  
Other undisclosed long-term debt and lease obligation (101)     
Liabilities, other than long-term debt996987929828577728615
Deferred tax liabilities, net 98 
Deferred income tax liabilities282278219177
Liability, pension and other postretirement and postemployment benefits548546553536478530522
Other liabilities167163157115999993
Other undisclosed noncurrent liabilities  (53) 197  
Total noncurrent liabilities:4,3054,3021,9741,0781,399978865
Total liabilities:5,7215,7183,4782,1832,5372,0361,919
Stockholders' equity
Stockholders' equity attributable to parent, including:7,1016,9736,4265,9215,6014,9364,448
Common stock 888   
Additional paid in capital37836029018510714 
Accumulated other comprehensive loss(266)(277)(395)(400)(243)(248)(296)
Retained earnings6,9806,8826,5236,1285,7305,1634,737
Other undisclosed stockholders' equity attributable to parent8   888
Stockholders' equity attributable to noncontrolling interest6554443
Other undisclosed stockholders' equity (0)     
Total stockholders' equity:7,1066,9786,4305,9265,6054,9404,451
TOTAL LIABILITIES AND EQUITY:12,82712,6969,9088,1098,1426,9766,370

Income statement (P&L) ($ in millions)

1/31/2022
TTM
10/31/2021
10/31/2020
10/31/2019
10/31/2018
10/31/2017
10/31/2016
Revenues11,96911,3869,6089,4979,5469,1689,523
Revenue, net9,1689,523
Cost of revenue
(Cost of Goods and Services Sold)
(9,953)(9,458)(7,782)(7,613)(7,550)(7,164)(7,365)
Other undisclosed gross profit0 (0)    
Gross profit:2,0161,9281,8261,8851,9952,0032,158
Operating expenses(883)(853)(761)(728)(855)(762)(873)
Other undisclosed operating income40483639594039
Operating income:1,1741,1231,1001,1961,1991,2801,324
Nonoperating income334736329116
Interest and debt expense(50)(43)(21)(18)(26)(13)(13)
Income from continuing operations before income taxes:1,1581,1261,1151,2101,1811,2791,317
Income tax expense(232)(217)(206)(231)(169)(432)(427)
Income before gain (loss) on sale of properties:9269099089791,013847891
Other undisclosed net loss (0)     
Net income:9269099089791,013847891
Net loss attributable to noncontrolling interest(0)(0)(0)(0)(0)(0)(0)
Net income available to common stockholders, diluted:9269099089791,012847890

Comprehensive Income ($ in millions)

1/31/2022
TTM
10/31/2021
10/31/2020
10/31/2019
10/31/2018
10/31/2017
10/31/2016
Net income:9269099089791,013847891
Other comprehensive income (loss)961185(102)448(71)
Comprehensive income:1,0221,0289138771,017895820
Comprehensive loss, net of tax, attributable to noncontrolling interest(1)(1)(1)(0)(0)(0)(0)
Comprehensive income, net of tax, attributable to parent:1,0211,0279128771,017895819

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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